As reported in the FT yesterday, looks like TradeWeb have gone live on USD Convertibles with backing from Lehman, Citi, Merrills & UBS……all part of the LiquidityHub consortium. Draw your own conclusions there.

As for TradeWeb themselves, given the modest showing of a number of their non-government products (in Europe at least), you wonder if it is products for product’s sake at times……(sigh)